Yen plunges after conservative win in Japan elections

The yen plunged in Asian currency markets on Monday after Japan’s conservative opposition swept to victory in national polls, with promises from its leader to press for more central bank easing. In early Tokyo trade the dollar bought 84.30 yen, up from 83.52 yen in New York on Friday, the greenback’s strongest level against the Japanese currency in more than a year and a half. The euro also soared to multi-month highs at 111.10 yen from 109.94 yen in US trade.

via Business feed http://www.scmp.com/business/money/market-snapshot/article/1107038/yen-plunges-after-conservative-win-japan-elections